DTN Early Word Opening Livestock 04/25 05:57
Hog Futures Set to Open Moderately Higher
Look for lean hog issues to open moderately higher, supported by
follow-through buying and bottom-picking interest. The cattle complex is geared
to begin with mixed prices thanks to residual selling and short-covering.
By John Harrington
DTN Livestock Analyst
Cattle: Steady Futures: Mixed Live Equiv $146.05 +.47 *
Hogs: Steady Futures: 50 -100 HR Lean Equiv $79.84 - .98**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Feedlot country should be generally quiet Tuesday as bids and asking prices
remain poorly defined. Both sides are understandably wondering if Monday's
board crash was just a one-trick pony or a significant sign regarding a market
top. Live and feeder futures seem staged for a mixed opening tied to a
combination of follow-through selling and short-covering.
Get your local Cash Bids emailed to you each morning from DTN – click here
to sign up for DTN Snapshot.